Atanu Chakraborty resigns as HDFC Bank chair citing governance incongruence
Atanu Chakraborty has resigned as HDFC Bank's chairman, saying there's been a growing "incongruence" in governance values over the past two years.
He didn't point to any one incident, but felt the bank's ethics and his own just weren't lining up anymore.
During his tenure, he had a front-row seat to major moves such as the merger with HDFC Ltd. and the monetisation of Credila, which strengthened the balance sheet and aligned the bank with regulatory expectations.
Dubai branch issues prompted local restrictions
Chakraborty also called out serious problems in the bank's Dubai branch: think customer onboarding slip-ups and conduct issues going back to 2018.
These led to local restrictions in September 2025 and several top executives leaving.
For him, these weren't just mistakes: they showed a mismatch between how the bank operates and its supposed values.
He emphasized that sticking to strong ethics is key for protecting everyone who trusts the bank.